Griffin Asset Management Inc. Has $5.22 Million Position in Target Corporation $TGT

Key Points

• Griffin Asset Management cut its Target stake by 18.5% in Q1, selling 9,788 shares and ending with 43,107 shares valued at about $5.22 million.
• Target reported better-than-expected quarterly results, with EPS of $1.71 versus $1.47 expected and revenue of $25.44 billion versus $24.66 billion expected, while sales rose 6.7% year over year.
• The company raised its quarterly dividend to $1.16 per share, implying a 3.5% yield, and analysts currently have a consensus Hold rating with an average price target of $130.64.

Griffin Asset Management Inc. lowered its holdings in Target Corporation (NYSE:TGT - Free Report) by 18.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,107 shares of the retailer's stock after selling 9,788 shares during the period. Griffin Asset Management Inc.'s holdings in Target were worth $5,225,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. WFA of San Diego LLC acquired a new position in Target during the second quarter valued at $25,000. Jessup Wealth Management Inc acquired a new stake in Target during the 4th quarter worth about $25,000. Altshuler Shaham Ltd acquired a new stake in Target during the 4th quarter worth about $26,000. Global Wealth Strategies & Associates boosted its position in Target by 192.0% during the 4th quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer's stock worth $29,000 after acquiring an additional 192 shares during the period. Finally, Eagle Bay Advisors LLC purchased a new position in Target during the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 79.73% of the company's stock.

Insider Buying and Selling at Target

In related news, insider Cara A. Sylvester sold 10,000 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the completion of the sale, the insider owned 45,930 shares in the company, valued at $5,782,127.70. This represents a 17.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.13% of the company's stock.

Target Price Performance

NYSE TGT opened at $132.11 on Friday. Target Corporation has a 1 year low of $83.44 and a 1 year high of $142.82. The company has a fifty day simple moving average of $128.26 and a 200 day simple moving average of $118.87. The company has a current ratio of 0.93, a quick ratio of 0.30 and a debt-to-equity ratio of 0.87. The company has a market cap of $60.00 billion, a P/E ratio of 17.45, a P/E/G ratio of 2.59 and a beta of 0.98.

Target (NYSE:TGT - Get Free Report) last announced its earnings results on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, topping the consensus estimate of $1.47 by $0.24. The firm had revenue of $25.44 billion for the quarter, compared to the consensus estimate of $24.66 billion. Target had a net margin of 3.24% and a return on equity of 22.92%. The business's quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.30 EPS. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, sell-side analysts predict that Target Corporation will post 8.35 EPS for the current year.

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be given a dividend of $1.16 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $4.64 annualized dividend and a dividend yield of 3.5%. This is a boost from Target's previous quarterly dividend of $1.14. Target's payout ratio is presently 60.24%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Guggenheim upped their target price on Target from $140.00 to $145.00 and gave the company a "buy" rating in a report on Friday, June 12th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Target in a research report on Monday, June 15th. Wolfe Research upgraded shares of Target from a "peer perform" rating to an "outperform" rating and set a $162.00 price objective on the stock in a research note on Tuesday, June 23rd. Barclays reiterated an "underweight" rating on shares of Target in a research report on Monday, June 1st. Finally, Robert W. Baird lifted their target price on shares of Target from $125.00 to $135.00 and gave the company a "neutral" rating in a research note on Thursday, May 21st. Twelve analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $130.64.

About Target

Target Corporation NYSE: TGT is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.

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